Fitch: Etisalat causes delay in Sri Lanka

Fitch Ratings said it said the entry of Emirates Telecommunications Corp. (Etisalat) into Sri Lanka can further delay any prospects for recovery in the Sri Lankan telecom operators' profitability.

Competition in the mobile space is already highly intense with five operators vying for market share, Fitch said.

Etisalat aggressively invested in telecom assets in the Middle East, Africa and Asia as growth in its home market slowed and competition intensified, the agency said.

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